Basic Probability Calculations | Business Statistics (STAT101)

This video gives an overview on basic probability calculations dividing it into 4 topics- simple probability, joint probability, marginal probability & the additional rule. Probability means the possibility, likelihood or chance to happen a particular event out of two or more events. Simple probability refers to the probability that a simple event will occur and there will not be any pre-conditions. The video then explains simple probability through an example.

Moving on, the video explains joint probability that involves the probability of 2 or more events by using a simple example where it asks to find out the probability of rain in today & tomorrow. Next, the video explains marginal probability that refers a set of joint probabilities & introduces the concept of mutually exclusive and collectively exhaustive events. Finally, the video discusses on the additional rule & shows how to calculate the probability of either any of two events from their individual probability and combined probability.

[evaa]

I’ve been watching probability videos all morning, and I have to say thank you. You explained it so clearly I can say I finally get it.

[louisebaricuatro]

i think im going to pass stat 101 thanks to you. <3

[KeyserTheRedBeard]

impressive upload Spoon Feed Me. I killed that thumbs up on your video. Keep on up the high-quality work.

[Cloud.Strife]

how to find T when the number of outcome is significant? How to calculate multiple event happening one after another?

eg, 10 cards are numbered from 1 to 10 and and are placed face down.
what is the probability of picking the card number 1 every time, ten times in a row? thanks.

[PencilTheGamer]

Hey what’s the probability of flipping 5 coins and landing on heads? I just did that today on my first try

[ritagomes]

for joint probabiliyt i thought youre suppose to add 500 +750 then devide by 1000. Im ocnfused on that part, Please explain

[davismotomiya]

Wealth u(W) = ROOT W, W=10, probability 0.3 to turn to 100, 0.7 to lose everything, wants to avoid risk, how much is he willing to pay? (0, 1, 2, 3)

[doorofel]

What is the probability of my birth date and time of birth would be the same example time 1:10pm date 1/10 ?

[SerajEmad]

Can anyone please answer this?
If I have 5 wires (having the same color) and 5 more, what is the probability of me connecting them in the right sequence?

[ghufranzaheer]

iska koi formula bh bna dety ((p(x) * value (x) * profit or loss/100)) = E (X) marwaogy bhai

[lollys]

Hey i dont understand how does like 1÷4 works